quick snapshot of mutual fund news, 10/19

David_Snowball

I searched "mutual funds" then clicked on the "news" tab in Google and set it for "within past 24 hours." By default, ten stories appear on page one.

Of the top 10 stories, four focus on mutual funds in India.

Three are press releases, one about the Voya "Born to Save" program and two from Zack's offering lists of "must buy" funds.

Uhhh ... three left:

an RIA at Seeking Alpha offering a first take on Janus Adaptive Global Allocation Fund (JAGDX)

a "distinguished investment strategist" at Seeking Alpha offering sector ratings (pssst ... energy is "dangerous").

responses to part of a due-diligence questionnaire by the managers of Loomis Sayles Dividend Income Fund (LSCYX).

So if we were to look for evidence of trained journalists doing something other than passing along press releases we'd ... ummm, need to look at the cover of Sunday's NFL games?

(sigh)

David

TSP_Transfer

FPA Crescent Fund – Q3 2015 Update
Activity:
o Sold out of Norsk Hydro and Sulzer
o Added to several names, including Alcoa, CIT Group, Cisco, LPL Financial, General
Electric
o Purchased a handful of new equity positions and a few new fixed income positions,
including Glencore and Bombardier, in the quarter.
o Top contributors for the quarter were Google, Sound Holdings, Microsoft, Sears Holding
Corp. 6.625% Due 10/15/2018, and Bombardier 7.750% Due 3/15/2020. Oracle, Joy
Global, Aon, Citigroup and United Technologies were the top detractors for the period.
Positioning:
o Gross exposure to equities is circa 58% and net equity exposure is approximately 55%.
Fixed Income increased a bit to 3.4%.
o Added to private investments, specifically real estate partnerships.
o Cash is approximately 40%.
Outlook:
o Still challenging to find bargains, but is improving. We are looking at various areas of
opportunities, including Chinese internet, copper, oil/gas and Brazil

http://www.fpafunds.com/docs/fpa-crescent-fund/q3-2015-crescent-update.pdf?sfvrsn=2

heezsafe

@David_Snowball Yes, it is rather sad, isn't it? That's why I haven't been posting much. I suppose if I found some really good macro article I would put it to the board, for whatever updated info or analysis it might contain, but for the most part I think we've all had quite enough of that sort of thing. As far as news directly relevant to MFs goes, something that would be informative/actionable? Pretty slim pickings of late. I guess it's just too much work for the pay.

LLJB

I guess this will be getting some discussion tomorrow- SEQUX's last reported portfolio according to M* had a bit less than 29% of it's portfolio in VRX which is down a small bit less than 28% today. If the remainder of the portfolio is flat today, that should mean the fund will take an 8% hit. Ouch!!!

VintageFreak

It dropped 6%, but suddenly I'm not regretting not buying SEQUX any more. I understand large bets can be beneficial. FAIRX, COBYX....I'm risking enough on high betters. Don't need any more.